HP Inc. said on Tuesday it expects to cut up to 6,000 jobs by the end of fiscal 2025, or about 12 percent of its global workforce, at a time when sales of personal computers and laptops are sliding as shoppers tighten budgets. The PC maker also forecast a lower-than-expected profit for the first quarter…
Here’s What Analysts Had to Say About HP Post Q2 Results
Analysts remained cautious about HP Inc. post Q2 results. Barclays analyst Tim Long maintained HP with an Underweight and raised the price target from $29 to $32. HP beat 2Q, driven by commercial and premium PC growth (primarily higher ASPs), while the Print segment was largely in-line. HP modestly raised the FY22 EPS guidance midpoint. Long remains wary of PC growth,…
HP Soars 14.8 Percent, Sets Record After Buffett Reveals $4.2 Billion Stake
HP Inc’s stock soared to a record high on Thursday after billionaire Warren Buffett’s Berkshire Hathaway Inc said it had taken an 11.4 percent stake valued at about $4.2 billion in the maker of personal computers and printers. Berkshire revealed in a Wednesday night regulatory filing that it owned nearly 121 million HP shares, including…
Morgan Stanley Downgrades HP on Potentially Lower Hardware Spend
The hardware industry is at risk of losing market share to other technology sub-industries due to greater macro uncertainty, “leaving us incrementally more cautious on the group in 2022,” according to Morgan Stanley. The HP Analyst Erik Woodring downgraded the rating for HP Inc from Equal-Weight to Underweight, while reducing the price target from $34…
HP Seeks to Ride Hybrid Work Boom With $1.7 Billion Poly Buyout
HP Inc. said on Monday it would buy audio and video devices maker Poly for $1.7 billion in cash as it looks to capitalise on the hybrid work led boom in demand for electronic products. Shares in HP, which expects the deal will position it for long-term growth, fell 1.4 percent in premarket trade. The…
Barclays Bumps Up Hewlett Packard Enterprise Price Target by 25%
Barclays analyst Tim Long upgraded Hewlett Packard Enterprise Co. to Overweight from Equal Weight with a price target of $20, up from $16. The price target implies a 23.9 percent upside. Long believes the company’s core server and storage market is stabilizing and moving to as-a-service. Meanwhile, Long thinks its networking “should see solid growth.” Further, HP Enterprise’s…
Analysts Bump up Price Targets on This Tech Giant Post Q4 Success
Analysts bumped up price targets on HP Inc post Q4 beat. BofA analyst Wamsi Mohan raised the price target to $33 from $29, implying fair-priced, and reiterated an Underperform. HP reported fiscal Q4 results that beat Street consensus estimates. Better-than-expected average selling prices for Personal Systems, where supply constraints helped HP price more competitively, and…
Which PC Companies Defied the Downturn in Global Shipments in Q3?
Global PC shipments, also including tablets, fell in the third quarter although remaining well above pre-COVID-19 pandemic levels, new research by Canalys showed. Modest Slippage In Q3 PC shipments fell 2 percent year-over-year in the third quarter to 122.1 million units, with tablets and Chromebooks serving as drags, the report said. Tablet shipments fell 15 percent year-over-year…
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